In March, Canada’s Finance Minister Jim Flaherty announced the maple leaf copper penny would no longer be distributed in order to save the government money.  Flaherty said the Canadian penny cost the government more to make than it’s worth.

The Royal Canadian Mint, responsible for the production of Canada’s coinage, will save millions. According to The Economist, the additional 0.6 cents greater than face value used to make a penny will total to about $11 milion in profit yearly.

The last rolls of pennies were distributed on Feb. 4.  The royal Canadian Mint produced a final batch of coins last spring, which were specially packaged and are being sold as collectables.

Shoppers who previously tossed the penny aside can now purchase a roll of 50 for $9.95. In honor of such a legacy, the pennies are available as a keepsake symbolizing a part of Canadian culture and history.

Canadian consumers and businesses must now adapt to a society without pennies, although retailers can still choose to accept the penny. As of now, cash transactions will be rounded to the nearest 5 cents, but electronic transactions will still be billed to the cent.

The penny, which has been part of the Canadian currency since 1858, will enter a six-year phaseout.  In the first years, this will cost Canada approximately $7.3 million.